- Vida Health, a virtual care upstart, just raised $110 million from investors including General Atlantic.
- It’s among a rising tide of healthcare startups that deal with chronic conditions.
- Vida shared its pitch deck with Insider, which details how it compares to competitors.
- See more stories on Insider’s business page.
Stephanie Tilenius’ dad had multiple chronic conditions, including obesity,
, and depression.
It was 2012, and she was a vice president at Google, living in California. Her dad lived in Ohio, and she struggled to keep up with all the doctors or track his health in any way.
“I needed day-to-day data, and I couldn’t get that,” Tilenius told Insider. “There was no one to hold him accountable and help him. And so I thought, ‘Why don’t we have this?'”
Tilenius founded Vida Health in 2014, which launched with $5 million in funding and signed its first commercial customer, Geico, the following year, she said. Vida tripled its revenue in 2020 compared to 2019, and it’s among a rising tide of startups seeing record funding and more deals with health plans and employers looking to tackle their increasing healthcare costs.
Vida on Wednesday raised $110 million from the likes of General Atlantic, Centene, insurance company Guidewell, and others, for a total of about $188 million, the company told Insider. It has programs for diabetes, pre-diabetes, mental health,
, including in Spanish.
Most patients admitted for COVID-19 had underlying chronic diseases like diabetes. Most of the more than 130 million Americans with a chronic disease, meanwhile, have more than one, Tilenius said. The past year has also taken a toll on mental health, with 41.5% of adults reporting symptoms of anxiety and depression, per the Centers for Disease Control and Prevention.
Chronic disease management can be the hardest part of healthcare, since patients are often juggling multiple physicians, apps, and medications. Especially with cross-cutting mental health conditions, people can struggle to get all the help they require.
“It’s almost like COVID forced everyone into an experiment to see how mental health affects physical health,” Tilenius said. “It started with anxiety, stress, loneliness, and lethargy. It’s ending with love handles, high blood pressure, and pre-diabetes.”
Vida’s in the category of startups like Omada, Virta Health, and Lyra Health that aim to supplement primary care with a mobile app. It can treat one patient for multiple problems at the same time, providing them data, like about blood sugar, plus coaching and time with specialists across conditions.
Its guiding focus, in other words, is combining mental and physical healthcare like Tilenius’ dad needed.
“They’re interrelated,” Tilenius said. “We see that if we treat the mind and the body, if we treat the depression and the diabetes, we’ll have better outcomes.”
Here’s the 35-slide pitch deck, provided by the company to Insider, that helped Vida raise $110 million. It omits two slides about the company’s financial information.
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